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GES, SIC violating Labour Act – TEWU

The Teachers and Educational Workers Union (TEWU) of Trade Union Congress has said the decision by the Ghana Education Service (GES) to impose the State Insurance Company (SIC) policy on its staff violated the country’s Labour Act. Section 70(1)(a) of the Labour Act 2003 (ACT 651) states that “an employer …

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China to overtake US as world’s biggest insurance market

China is expected to surpass the United States to become the world’s largest insurance market in the mid-2030s, according to a report from Swiss Re Institute. China consolidated its position as the second largest insurance market globally in 2018, with total premiums reaching $575 billion. However, the Chinese market is …

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We have the right conditions for investment – GIPC

Mr. Yofi Grant, the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), has urged Ghanaians in the diaspora to take advantage of the country’s numerous investment prospects to facilitate development. He said the country has  investment opportunities that were underutilized or untapped, which required huge capital and …

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SSNIT asked to redouble efforts to capture workers in informal sector

Reverend Johnson Avuletey, Deputy Volta Regional Minister, has challenged the Social Security and National Insurance Trust (SSNIT) to redouble efforts at capturing self-employed and workers in the informal sector in the Region under the Scheme. He observed that the state of many aged people especially in the informal sector, who …

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SSNIT says GH¢43m saved after clearing pension payroll of ghost names

The Social Security and National Insurance Trust (SSNIT) has saved a whooping GH¢43 million as of April this year after deleting over 6,300 ghost pensioners from its payroll. The Trust in February last year, begun an exercise to clean the pension payroll of ghost names in collaboration with the banks, …

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Paying maternity leave from pension contributions of women discriminatory – LRI

The Labour Rights Institute (LRI), a Labour Advocacy Organisation, has said any move to impose on women workers the obligation to pay for their maternity leave with part of their pension contributions would be highly discriminatory. It said the suggestion to that effect was a subtle attempt to blackmail the …

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Avoid setting premiums at low prices – Insurance Commissioner

Mr Justice Yaw Ofori, the Commissioner of Insurance, has urged insurance companies to avoid setting premiums at very low prices with the intention to achieve new customers or drive competitors out of the market. Speaking at the launch of Bedrock Insurance Company, Mr Ofori said it is surprising that companies …

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National Insurance Campaign to educate Ghanaians launched

A national Insurance Campaign to educate the public on risk management through various Ghanaian languages has been launched in Accra. The campaign, under the auspices of the Insurance Awareness Coordinators Group (IACG) and the Ghana Insurers Association (GIA), will involve airing of insurance educative jingles in 34 Ghanaian languages. This …

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Some 11 million Ghanaian workers do not have social security

Mr Samuel Kweku Doughan , the TUC Regional Secretary says out of the over 13 million workers in Ghana, 11 million did not have access to social security. “Some workers are denied their annual leave with pay, sick leave with pay and even overtime allowance while some females bear the …

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